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Saudi-listed Cenomi Retail has abandoned plans to combine fashion brands with a major international fashion retailer.
The Tawdul-listed company has terminated negotiations and is considering other options including a strategic investment from an unnamed entity.
Last week the firm was fined SAR 20,000 ($5,333) by the kingdom’s Capital Market Authority (CMA) for failing to file financial results for the period ending December 31 2023.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
